Re:Banks as Collateral Damage in a Class War
by recursivedoubts on Wednesday March 22, 2023 @10:46AM
(#35261837)
People will be incentivized (and possibly required) to pay off high-interest debt first, which is the right thing.
Beyond that, a modern debt jubilee isn't about you optimizing your individual financial situation.
Rather, it is about:
- keeping it as simple and hard to game as possible
- reducing total debt in the economy to a sustainable level
If you have to pay down or pay off your mortgage, sorry. On the other hand, you would own a house free and clear. So life wouldn't be all bad.
Re:Banks as Collateral Damage in a Class War
by whateveracct on Wednesday March 22, 2023 @11:36AM
(#35262699)
I'd imagine using it on your next monthly payment would be allowed. Agreed - not a bad deal.
I'd hope they'd also make exceptions for any loans under the current rate of inflation, but good luck getting that passed. Having to immediately pay off a 0% loan (if anyone still offers those) clearly is far from the optimal use of the money.